One in three New Zealanders have fallen victim to scams.
Findings from a Westpac survey have also shown 90 percent of people are worried about being defrauded.
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Respondents felt most vulnerable to scams when using their bank cards online, following by sharing details over the phone.
The bank says its financial crime team has stopped $22 million of fraud from occurring in the past year.
Westpac NZ head of financial crime and security, Tiffany Ryan, said people need to stay vigilant for unwanted activity on their accounts.
"They should monitor their bank statements regularly, as well as keep the bank notified of contact details changes, overseas trips or intended large purchases," Ms Ryan said.
People were most worried about their parents or grandparents falling victim to the scams and Ms Ryan said families should have conversations about keeping themselves safe from scammers.
"These scammers know how to pressure vulnerable people into quickly giving away confidential details such as PIN numbers, or into transferring money out of their accounts," Ms Ryan said.
"I would encourage people to have a conversation with their extended families and friends explaining the types of scams and tactics scammers may use to try to get their sensitive information from them, and what they should do if someone they do not know calls them, emails them, texts them, or comes to their front door purporting to be from a particular company."